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PCG » Topics » Accumulated Other Comprehensive Income (Loss)

This excerpt taken from the PCG 10-K filed Feb 18, 2005.

Accumulated Other Comprehensive Income (Loss)

        Accumulated other comprehensive income (loss) reports a measure for accumulated changes in equity of an enterprise that results from transactions and other economic events, other than

90


transactions with shareholders. The following table sets forth the changes in each component of accumulated other comprehensive income (loss):

 
   Hedging
Transactions in
Accordance with
SFAS No. 133
   Foreign
Currency
Translation
Adjustment
   Retirement Plan
Remeasurement
   Other
   Accumulated Other
Comprehensive
Income (Loss)
  
Balance at December 31, 2001   $ 36   $ (5 ) $ —   $ (1 ) $ 30  
Period change in:                                
  Mark-to-market adjustments for hedging transactions in accordance with SFAS No. 133     (139 )   —     —     —     (139 )
  Net reclassification to earnings     13     —     —     —     13  
  Other     —     2     —     1     3  
   
 
 
 
 
 
Balance at December 31, 2002     (90 )   (3 )   —     —     (93 )
Period change in:                                
  Mark-to-market adjustments for hedging transactions in accordance with SFAS No. 133     (8 )   —     —     —     (8 )
  Net reclassification to earnings     17     —     —     —     17  
  Other     —     3     (4 )   —     (1 )
   
 
 
 
 
 
Balance at December 31, 2003     (81 )   —     (4 )   —     (85 )
Period change in:                                
  Mark-to-market adjustments for hedging transactions in accordance with SFAS No. 133     3     —     —     —     3  
  NEGT losses reclassified to earnings upon elimination of equity interest by PG&E Corporation     77     —     —     —     77  
  Other     —     —     —     1     1  
   
 
 
 
 
 
Balance at December 31, 2004   $ (1 ) $ —   $ (4 ) $ 1   $ (4 )
   
 
 
 
 
 

        Accumulated other comprehensive income (loss) included losses related to discontinued operations of approximately $77 million at December 31, 2003 and approximately $93 million at December 31, 2002. During the fourth quarter of 2004, the remaining losses of approximately $77 million included in accumulated other comprehensive income (loss) were recognized in connection with PG&E Corporation's elimination of its equity interest in NEGT.

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